Why Kraft Heinz Stock Tumbled by 3% on Wednesday
Kraft Heinz(KHC) The Motley Fool·2024-10-31 05:47
The company's third-quarter performance didn't inspire market players to buy its shares. The news affecting food industry mainstay Kraft Heinz (KHC -3.08%) on Wednesday wasn't all that encouraging, and investors sold out of the stock to cut its price down by more than 3%. That decline was steeper than the 0.3% drop of the S&P 500 index that day. A mixed third quarter Kraft Heinz's third-quarter release showed that the company's net sales fell by nearly 3% on a year-over-year basis to $6.38 billion. That com ...